PHILIPPINE Egg Board Chairman Gregorio San Diego on Saturday said that egg prices are expected to further go up as prevailing prices for medium eggs ranged between P9 to P10 per piece.
In a radio interview, San Diego added that egg producers have no control over the upward trend in the retail prices of eggs.
“We are not the ones who dictate the prices as the farmgate price is only at P7 while the retail price for medium egg ranges between P9 to P10,” San Diego said.
San Diego did not say how much the retail price of eggs could increase but based on the reports the retail price in Laoag City reached at least P13 per piece.
“We have what we call the threshold, for example, if the retail price of eggs reaches beyond P10, consumers will no longer buy and eventually go down as we cannot afford to store eggs for too long, otherwise we will suffer spoilage,” San Diego said.
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San Diego cited the experience in 2021, where egg producers were forced to sell the eggs to traders at depressed prices because of low demand.
“That’s what happened in 2021 where we agreed to sell our stocks to traders at low farmgate price to prevent the eggs from rotting,” San Diego added.
According to San Diego, the farmgate prices of eggs ranged between P6.70 to P7.20 per piece.
“Traders who are getting their eggs in Batangas, the farmgate price of medium sized is only at P6.70 but in Central Luzon, particularly Bulacan and Pampanga, it is P7.20 as these areas were affected by bird flu,” San Diego noted.
San Diego noted that prior to the increase in the retail prices of eggs, the difference between farmgate and retail prices was only centavos.
“We were surprised that the retail price of medium eggs is now at P10 per piece. It is too high but we cannot blame the retailers who also want to earn,” San Diego added.